Her consistent lead Italy and the meteoric rise of USA in the top 10 of the “map” of of Greek exports stand out in the data of the first quarter of 2024, while the top destinations for Greek products include Germany, Bulgaria and Cyprus.

However, the deterioration of conditions in the global economy is beginning to affect the dynamics of Greek businesses, which are trying to maintain the momentum and limit the losses that are becoming more and more evident.

The above is mentioned by the Panhellenic Association of Exporters in its announcement on the occasion of an analysis it carried out based on ELSTAT data.

Commenting on the developments, the president of the Panhellenic Association of Exporters, Christina Sakellaridis, stated that:

“The PSE is monitoring with particular attention the course of Greek exports, which fell further in June. The international negative situation is beginning to affect the work of Greek exporters, posing obstacles to the development of their turnover. The high inflation that is plaguing the European economy, where Greek products are mainly channeled, has also affected the purchasing power of consumers, causing them to appear cautious in their spending.

We remain vigilant and hope for a normalization of the situation in the next period. After all, Greek exporters have proven that they have the flexibility to adapt to even the most adverse conditions.”

In particular, according to an analysis by the Panhellenic Association of Exporters and the Center for Export Research and Studies (KEEM), based on the provisional data of EL-STAT, exports, for the period January – March 2024, decreased in total by -11% and reached just to 12.33 billion euros. Imports in the same period decreased by -4.2%, with their total value reaching 20.30 billion euros. As a result of the above movements, the trade deficit increased by 8.7% and reached 7.97 billion euros in the first quarter of 2024.

Italy continues to be the most important destination for Greek exports during the period under review in 2024, while Germany occupies 2nd place, up from 3rd in the first quarter of 2023. Cyprus rises to 3rd, up from 4th in the first quarter of 2023. corresponding period in 2023. Next, Bulgaria occupying the 4th place from the 2nd place, due to the deep retreat of exports by -41.2%.

Next, the USA, which is in the 5th place from the 9th position it held in 2023, due to the increase in exports to the country in question by 12.1%, Turkey to which a decline in exports is recorded (-9.6% ) and the United Kingdom in positions 6 and 7, for Turkey one position higher and for the United Kingdom five positions higher, compared to the corresponding period last year.

Spain is in 8th place, just like in the first quarter of 2023, followed by Romania, to which the decline in Greek exports (by -16.9%) did not affect its order of ranking, as a result of which it took the 9th from the 10th place it held in January-March 2023. The top ten of the main destinations of Greek exports is completed by France, which was in 6th place during the aforementioned period of 2023.

Apart from the top ten client countries of Greek products for the period January-March 2024, it is worth noting the significant increase in exports (134.3%) and a big rise in the ranking of Ukraine (13th place from 21st) and Egypt (19th from 32nd) with an increase of 99.9%. The decline of Libya (17th from 5th) with a drop of -61.8% and the rise of Croatia (25th from 38th) with an increase of 71.6% compared to the first quarter of 2023. Finally, the improvement of Malta and Georgia ( 26th out of 35th and 35th out of 50th respectively) with an increase for Malta by 29.5% and for Georgia by 64.6%.

Regarding the destinations of Greek exports per economic union, there is a -17.2% drop to the EU.

Regarding the product categories, the decrease of -11.2% results from the downward trends in all sectors.